Molecular Diagnostics Market Research Report, By Type of Techniques (PCR and Real-Time PCR, Fluorescence In-Situ Hybridization) By Applications (Infectious Diseases, Oncology, Blood Screening) By End User – Global Forecast till 2023
Molecular Diagnostics Market – Overview
A necessary part of in-vitro diagnostics, molecular diagnostics a collection of techniques useful for analyzing biomarkers in genomics and proteomics. Market Research Future (MRFR) has published a research report about the global molecular diagnostics market that envisions prosperity for this market at 9.6% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023.
The key factors that support the growth of the global molecular diagnostics market include the advancement in molecular techniques and the increasing prevalence of infectious diseases and various types of cancer. The Polymerase chain reaction (PCR) technology is also aiding the market growth for molecular diagnostics. Molecular diagnostics includes automated and easy-to-handle techniques. However, the high price of diagnostics kits can be hurdles in the market growth during the forecast period.
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With the alarming rise in the occurrence of sexually transmitted infections (STIs) like Chlamydia trachomatis and Neisseria gonorrhoeae, the frequent need of diagnostics is equally on the rise around the world. Therefore, the demand for molecular diagnostics has been quite decent in the past couple of years. In short, the increasing adoption of molecular diagnostics in the wake of increasing STIs across the globe will present countless growth opportunities to the molecular diagnostics market.
Segmental Analysis :
The market for molecular diagnostics is segmented on the basis of techniques, applications and end users.
The various techniques in the global market are Polymerase chain reaction (PCR) and real-time PCR, fluorescence in-situ hybridization, microarray, transcription-mediated amplification, and next-generation sequencing.
Application-wise, the market caters to infectious diseases, oncology, blood screening, genetic testing, pharmacogenomics, human leukocyte antigen typing, coagulation, others.
Lastly, the end users that are mentioned in the report are hospitals, diagnostic laboratories, academics and research institutions.
Industry Developments :
February 2019 – Co-Diagnostics, Inc. has recently launched its first multi-disease diagnostic which was built by using their patented CoPrimer design platform. This diagnostic test can be used for dengue, chikungunya and Zika, which was developed to cater to the market demand for a cost-effective and highly-accurate diagnostic tool for all the three diseases.
Key players :
The top vendors in the global molecular diagnostics market include Hologic, Inc. (U.S.), QIAGEN N.V. (the Netherlands), Grifols (Spain), Bio-Rad Laboratories, Inc. (US), Abbott (U.S.), Siemens Healthcare GmbH (Germany), F. Hoffmann-La Roche Ltd. (U.S.), Cepheid (U.S.), BD (U.S.), bioMérieux SA (France), Beckman Coulter Inc. (U.S.), and others.
Several companies in the molecular diagnostics market are looking to collaborate with research institutes in order to advance their own product development programs. Recently, EZLife announced a collaboration with the UCLA to expand EGFR lung cancer assay into RUO offerings. Such collaborations are likely to be common among key players in the molecular diagnostics market.
Regional Analysis :
The regional analysis done for the global molecular diagnostics market is for the key regions of America, Asia Pacific, Europe, as well as Middle East & Africa.
Based on the geographical distribution, America has attained the substantial share of the global molecular diagnostics market, with Europe and Asia Pacific right behind. Growing prevalence of chronic diseases along with a number of cancer types, and massive investment in research sector for the treatment of diseases has elevated the market position of molecular diagnostics at a global level. The constant prediction of the ever-increasing range of infectious diseases like HIV and hepatitis contribute to the market expansion in the region. Apart from this, a swelling demand for biomarkers that are used for rapid diagnosis will auger well with the regional market growth in the near future.
Europe is steadily catching up with America, amassing the second largest share of the global market on account of the elevated demand for biomarker test for diagnosing cardiovascular diseases, especially amongst the obese people. The molecular diagnostics market in the region observes strong growth on the back of the accelerated demand for advanced molecular diagnostic products.
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However, it is the region of Asia Pacific that has catapulted right among the strong contenders in the global market, by growing at the fastest rate. The strong presence of growing number of low budget hospitals and clinics along with a massive population base has resulted in the lavish growth of the market in Asia Pacific.
Middle East & Africa will be noting a rather restricted growth in the global market because of the lack of awareness among the general mass, as well as due to the limited development of the medical industry.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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